The Japanese Yen (JPY) was weakened by 0.5% compared to the dollar, even underperforming his comrades in Paradis, while the markets are preparing for soft domestic data and the next US-Japanese trade negotiations. Boj should hold stable, JPY remains vulnerable to external risks and political inertia, the chief strategist of scotiabanque, Shaun Osborne, note.
Focus on data, trade and boj
“JPY is low, down 0.5% compared to the USD and underperforming all G10 currencies as well as its Haven Peer CHF. National versions are to the point with industrial production and retail sales scheduled after the NA session.”
“The two should show weakness in March and it is therefore unlikely that the BOJ is away, given the long -awaited outfit during this week's political meeting. US / Japan trade negotiations should continue between Wednesday and Friday, offering a risk of additional title for the Yen.”
